Aster DM Healthcare is privately held health care providing conglomerate founded in 1987 by Azad Moopen. The company is headquartered in Dubai, United Arab Emirates. Aster DM Healthcare currently operates hospitals, diagnostic centers, medical centers, and pharmacies in the Middle East and India. In 2013, the company has allocated $600 million for its expansion program in the next five years.
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History
Aster DM Healthcare was founded in 1987 in Dubai, United Arab Emirates by Dr. Azad Moopen, a doctor turned entrepreneur. The company is a private sector healthcare provider in the Middle East. The Dubai-headquartered healthcare conglomerate covers an array of healthcare verticals, from hospitals, clinics, pharmacies, healthcare consultancy service, and an advanced Medical City.
In November 2014, Aster DM Healthcare finalized Bank of America Merrill Lynch, Goldman Sachs and Kotak Mahindra Bank to manage its Rs 1,200-crore initial public offering (IPO) scheduled for early next year. The company plans to sell 10% shares on the bourses though details of the same are not finalized yet. but sebi the regulator of indian market asked the company to prove the overseas asset networth of the company.
In March 2015, Sachin Tendulkar, the highest run-scorer in Test history, opened Aster DM Healthcare's 150th pharmacy in Abu Dhabi. Sachin Tendulkar is the brand ambasider of Aster Pharmacy and CSR activities.
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Business expansion
In May 2011, Aster DM Healthcare opened its first medical centre in Sharjah, United Arab Emirates. The new centre was officially inaugurated by the veteran Indian play back singer K. J. Yesudas in the presence of Chairman Dr. Moopen and various guests from the Government of Sharjah and Ministry of Health.
In February 2013, Aster DM Healthcare announced the interest of investing in the Philippines' healthcare sector. Initially, the company would start with the establishment of pharmacies and possibly hospitals in the later time. Chairman Dr. Azad Moopen told reporters in a press conference for the launch of the DM Healthcare Foundation Philippines Inc., which is providing free pediatric cardiac surgery to at least 50 Filipino children in two years. In December, they launched its fifth Access Clinic in Jebel Ali Free Zone, or Jafza South, aimed at catering to the day-to-day healthcare needs of the employees in the neighborhood.
In April 2014, the company announced the plans to establish help desks in Oman for 2 separate campuses of Aster Medcity, South Asia's largest quaternary care hospitals being set up in Thiruvananthapuram and Ernakulam, Kerala, India.
In August 2016, the company has taken over Cuvery Medical Institute, Bangaluru and renamed as Aster CMI Hospital, Bangaluru. It's planned for 509 beds and inaugurated by honorable cricketer Shri Sachin Tendulkar on 27 August 2016. In Bangaluru there are four clinics with complete day care facility.
Acquisitions
In 2012, Olympus Capital Holdings Asia bought a minority stake in Aster DM Healthcare for the amount of about $100 million. The company did not reveal the size of the acquired stake. However, they announced that Olympus Capital Holdings is now Aster DM Healthcare's largest external investor and that its nominees will join the company's board. In May 2014, Olympus Capital Holdings Asia invested another $60 million round into the company.
Source of the article : Wikipedia
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